Hudbay Minerals Inc. (NYSE:HBM) Short Interest Down 6.6% in July

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 6,540,000 shares, a decrease of 6.6% from the June 30th total of 7,000,000 shares. Based on an average trading volume of 3,610,000 shares, the short-interest ratio is presently 1.8 days.

Hudbay Minerals Price Performance

NYSE HBM traded down $0.50 on Thursday, hitting $7.84. The stock had a trading volume of 1,289,156 shares, compared to its average volume of 2,881,340. Hudbay Minerals has a 52-week low of $3.94 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 36.26 and a beta of 1.82. The firm has a 50-day moving average of $8.98 and a 200-day moving average of $7.63.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The business had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. Equities analysts expect that Hudbay Minerals will post 0.59 EPS for the current year.

Institutional Trading of Hudbay Minerals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. lifted its stake in Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after purchasing an additional 114,266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 28.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after buying an additional 272,635 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Hudbay Minerals by 33.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock valued at $27,604,000 after buying an additional 1,266,717 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in shares of Hudbay Minerals by 475.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after buying an additional 3,802,687 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBM has been the subject of a number of research reports. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. Jefferies Financial Group increased their target price on shares of Hudbay Minerals from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, July 12th. National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of $10.36.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.